The Hindu Business Line : Indian teams discuss investment prospects in Jafza

Three high-level delegations from New Delhi, Punjab and Bengal recently visited the Jebel Ali Free Zone (Jafza), to discuss the investment opportunities at the free zone and strengthen bilateral trade co-operation between India and Dubai.

Jafza has traditionally attracted a large number of Indian investors and has been successfully fostering trade alliances with them for many years.

Indian delegation

Ms Salma Hareb, CEO of Jafza, Hamza Al Haddad, Vice President - Marketing, Jafza, and Mr Mohammed Al Banna, Regional Manager Asia and Pacific, Jafza, welcomed the visiting delegations that comprised Ms Sushma Berlia, President of Punjab Chamber of Commerce and Industry, who headed the team from Punjab; Mr Anthony De Sa, Joint Secretary for Trade Policy and Policy Co-ordination, who headed the New Delhi delegation, and Ms Nayantara Palchoudhuri, Chamber President and team leader, who headed the Bengal National Chamber of Commerce & Industry delegation.

Ms Salma Hareb said, "UAE shares a long history of mutual trade with India, and this is reflected by the large number of Indian companies currently operating in Jafza. We have been boosting business in the region by defining business alliance based on our experience as a free zone that has been operating for more than 20 years now."

Thriving biz hub

"Focusing on the refinement and upgrading of every aspect of its services, Jafza has become a thriving business hub for the Indian investors. Today, there are more than 588 Indian companies at Jafza, which is 11 per cent of the total companies located in the zone. This number is set to rise considerably in the coming years, as Jafza expands its infrastructure and services. We are committed to step up our efforts to encourage more investments from the Indian business community," she added.

Bilateral trade

The volume of trade between UAE and India is growing rapidly, with the 2004-2005 statistics suggesting a bilateral trade of $11.92 billion. UAE is considered the sixth largest exporter of products and services to India and the largest destination for Indian exports during 2004 and 2005. According to the figures, direct import trades between Dubai and India touched AED 17.64 million in 2004. The exports recorded AED 2.10 million whereas re-exports touched AED 11.62 million.

The Indian delegations appreciated the excellent and superior services that are offered by Jafza. Mr Anthony De SA, Joint Secretary for Trade Policy and Policy Co-ordination, said, "Jafza has been offering many incentives for easy, secure and profitable investments in the UAE for many years. The wide range of superior infrastructure facilities, have encouraged Indian companies to explore the country's huge business potential. We are committed to work closely together with UAE to enhance the overall trade and economic activities between India and Dubai."